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CNBC
Dec 5, 2012 3:00pm EST
for these massive spending cuts that would come at the end of the year if we go over the fiscal cliff. the white house saying they don't expect we will. they still hope it can be prevented, but they have to start planning. also, speaker of the house john boehner meeting with small business leaders on capitol hill where he reiterated some of his key points. again, just within the past hour. take a listen. >> business owners with us today are here to highlight president obama's demand to raise tax rates instead of cutting spending. his plan will hurt nearly 1 million small businesses around our country. that will affect hundreds of thousands of jobs. >> reporter: and guys, there are republicans here on capitol hill who are urging the speaker to cut a deal with the president. i talked to one of the earliest republicans to say, you know what, let's take a the president up on his offer to extend the bush tax cuts for everybody under $250,000 and at least take that uncertainty off the table and then continue to negotiate the rest to have later. some of the republicans are now coalessing around that vi
FOX Business
Nov 30, 2012 4:00pm EST
about how this divide is growing on fiscal cliff the white house came out with these huge new demands. before, they were talking about increasing rates. that was bad enough and now they saves increase rates and get rid of deductions. a huge increase in demand on tax rises. does that concern you? >> absolutely. this is a proposal was brought to the table and on the republican side kind of laughed at and not take it seriously at all. some concern for the market because we are no closer than we were two week ago to any kind of agreement at all and if history has taught us anything with washington d.c. they don't solve anything until it comes to the last minute and all that uncertainty creates a lot of volatility in the market and we're seeing that more and more and will continue to see that for the next 30 days. liz: you to in this out and listen with one ear because you have been long-term bullish. how do you proceed when there is this echo chamber out of washington d.c. about the fiscal cliff? >> what you need to realize is regardless of where they end up, they have reduced standing an
FOX Business
Nov 29, 2012 11:00am EST
the president's fiscal cliff plant to republican house speaker john bain and not buying it. he just said white house needs to get serious and the markets are turning lower. also had fiscal cliffs survival kit home additions that you contain right now to prepare. dennis: blamed superstorm sandy. retailers playing the blame game for week november same store sales. analysts already asking what it really the storm or the economy did pull those numbers down? cheryl: we are watching a power ball conference this hour with more details expected on the two winners of the $580 million record jackpot from missouri and arizona. of gone home to buy my ticket. dennis: stocks every 15 minutes, nicole petallides, for the stock exchange where stocks the suddenly lower on more cliffphobia. nicole: i can say in the wall street traders saying every headline out of washington moving this market, fiscal cliff phobia is a good way to say it, whatever you want to call it we have seen so many dramatic moves in the market, a particular companies making moves in preparation or all been wary about the fiscal cliff, let's
CNBC
Dec 4, 2012 4:00am EST
to avoid the year end fiscal cliff. >>> and president obama is meeting with a group u.s. governors today around 10:00 a.m. eastern. it includes jack markell, mary fallon, scott walker. the governors will discuss how the fiscal cliff will impact their states and possible solutions. it's also expected to meet with house republicans, as well, this week. >>> and oracle is amongst the latest of speeding up their dividend pay outs to avoid possible tax hikes because of the fiscal cliff. they will pay dividends a total of 18 cents a share for the next three quarters. larry ellison didn't take part in the decision, but he will benefit. he own as 23% stake in the company, so he'll receive around $198 million. yes, you heard it right. oracle stock down 0.8% despite that in frankfurt. still to come, interest rates in australia are moving down. down under. find out what central bank is worried about when we come back. >>> australia central bank held its rate setting meeting. matthew taylor has the details. >> the market had been pricing in a 25 basis point rate cut and the reserve bank delivered wit
CNBC
Nov 30, 2012 3:00pm EST
. >> welcome back. >> yesterday the white house fiscal cliff proposal made top senate republican mitch mcconnell laugh, we are told. >> today the rhetoric continued. eamon javers breaks down all the hardball offers and the reactions in washington. over to you, eamon. >> hi, guys. we got a lot going on here in washington this week. a lot of horse trading. we dealt with a lot of the spee speech. the white house is saying they'd like to see $1.6 trillion in tax increases up front here. they'd like to continue the payroll tax credit. they want a permanent increase in the debt limit and a one-year extension of expanded jobless benefits. they want at least $50 billion in spending as a stimulus to the economy. that was the white house ask that prompted that laugh from mitch mcconnell when tim geithner gave it to him yesterday. today in an interview with "the wall street journal," mcconnell floated his own balloon of what he'd like to see. here are some of the elements. mcconnell saying they want changes to entitlement eligibility. they would agree to more tax revenue, yes, but not higher rates.
CNBC
Dec 6, 2012 4:00am EST
geithner says the white house is ready to go over the fiscal cliff if tax rates on the wealthiest don't rise. investors looking for ecb guidance when draghi announces the bank decision later today. and stocks in europe are trading higher. aerospace giant has unveiled its ownership restructuring plans. apple and samsung are heading back to a californian courtroom today to renew their dispute. hearing starts at 4:30 eastern. samsung wants the court to toss out a jury verdict for patent infringement. apple wants to block some sales of samsung smartphones in the united states. apple suffered its worst day in four years and may be creediedi ground in the market. 417 companies in the s&p have a market cap below $35 billion. in frankfurt right now, apple stock down 3%. i'm afraid more bad news, as well, coming out of china. because apparently apple's rang in china smartphone market which will become the largest this year is down two spots to number six in the third quarter. suffering tough competition from chinese brands. this is according to idc. they say the u.s. market share in china unde
FOX Business
Dec 4, 2012 11:00am EST
pulling off their own plan to deal with the fiscal cliff. connell: the white house predictably saying, no deal. the parameters are there now. we can start to imagine what a deal may look like. >> i think that is right. they have been adamant in saying we want more revenue. they have kept the rates down. they have had spending cuts. i think they will find a deal just over a trillion in revenue. dagen: it is a turnaround for the republicans to say that we will raise revenue. how they get to it is very different from anything we have heard from president obama. >> i think that the president and the democrats are dug in. they want to raise the marginal tax rates for the upper earners of america. they are willing to allow a deal to lapse rather than have the tax rate rise. connell: maybe there is not a deal taking shape. they could say something like, we will raise these rates, but instead of $250,000, it has to be $500,000 or $1 million. there are ways to play a round with this. >> i think the republicans would lose, frankly, being the majority in the house. if they go ahead and give the
FOX Business
Dec 3, 2012 1:00pm EST
at 2 p.m. eastern time, about the fiscal cliff all part of the white house's my2k twitter campaign w-9 president drumming up support for taxes on the rich. george hw bush in stabbe condition after receiving stream for a bronchitis-related cough. the 88-year-old has been in the hospital for a week receiving treatment visited by several of his children including former president george w. bush. the royal family getting a new member. the st. james' palace saying they are expecting a baby. the queen and members of the both pams are delighted with the news. the duchess is in the very early stages of pregnancy. those are the head lines. >> oh, that's fun. a royal baby. >> yes, thank you, lauren greern. >> sure. >> to charlie, the president must want fat cats to support the plan to end the fiscal cliff impasse. we have the behind the scene meetings between the executives. >> caught a lot of people by surprise. it was last week where deputy secretary of state, tom nides, went to the city, held a series of meetings, which senior wall street executives, the two meetings i know about, larry fink,
CNBC
Nov 30, 2012 12:00pm EST
comments shortly regarding the fiscal cliff and we'll take you into that room live when john boehner appears. also a stunning month for facebook. shares are up nearly 30%. you buy the rally. we got some answer frs a top wall street analyst. we'll hear from two d.c. insiders from opposite sides of the aisle. doug holtz eakin, harley davidson fo davidson -- harold ford jr. will square off on the fiscal cliff when we come back. [ abdul-rashid ] i've been working since i was about 16. you know, one job or the other. the moment i could access the retirement plan, i just became firm about it -- "i'm done. i'm out of here." you know, it's like it just hits you fast. you know, you start thinking about what's really important here. ♪ ♪ sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve great rewards! [ male announcer ] the spark busi
PBS
Dec 3, 2012 4:30pm PST
this final month of 2012 is the fiscal cliff. analysts say if congress and the white house don't quickly resolve the budget crisis consumers could tighten their belts, throwing a speed bump into what has been an otherwise blockbuster year. diane eastabrook, "n.b.r.," chicago. >> susie: meanwhile, ford is going all out to rev up its upscale lincoln brand. the company is re-naming the division, "the lincoln motor company". it's not a separate company, but a separate brand from ford's mainstream models. at an event in new york city's lincoln center, ford introduced the new lincoln mkz sedan, one of four luxury, and fuel efficient models coming out over the next four years. >> no oneffers a car that's more fuel he fishant than the this hybrid no one offers a vehicle with the kind of craftsmanship and beautifully skimp find interior that we val. and when you drive it, it's going to be as fun to drive as a bmw but as quiet and comfortable at a lexus. >> susie: this is ford's latest campaign to stage a comeback for lincoln. when i talked to the c.e.o. alan mall ally i asked him if this is his l
FOX Business
Dec 5, 2012 1:00pm EST
% savings. melissa: as washington is in the middle of this tumultuous fiscal cliff negotiations from a white house looking for more money in the terms of emotions the aid request rebuilding efforts. still willing from super storm sandy here in the northeast. peter barnes in washington with the latest on that effort. speaker according to "the new york times" for white house will be looking for about $50 billion to help rebuild from hurricane sandy. officials testifying declined to comment that number but they did say the white house will be sending in disaster relief bill up to congress by the end of the week. the three hardest hit states: new york, new jersey and connecticut alone are seeking $80 billion in federal help. the administration is teeing up a big request. >> much of the impact of sandy go beyond fema programs. fema's assistance is limited, maximum benefits of individual family could receive is about $31,000 if they have no assurance. others that will not rebuild destroyed or damaged home to did not have insurance. >> woke up to this headline. u.s. denies aid to the maryland storm
PBS
Nov 29, 2012 4:30pm PST
off the fiscal cliff. if the cliff is averted... >> then i think you will see silver, platinum, palladium-- the so-called white metals-- outperform gold, because they will tend to outperform in a risk-on environment in a cyclical upturn. >> reporter: now, the other scenario: >> in an environment where we go off the fiscal cliff and we see continued problems on the debt side for the u.s., i think the gold price outperforms the white metals. >> reporter: gold's price will also depend on whether central banks continue to diversify their holdings into gold, and whether they implement more quantitative easing to boost growth. the outlook for platinum is a little more complicated. there have been major supply disruptions due to labor unrest in south africa, which produces nearly all of the world's platinum. it also depends on demand. >> europe is a key part of the platinum demand picture. if europe can recover, certainly that's going to bode well for platinum demand. if the price trades higher, it may affect some of the price- sensitive sectors like jewelry, like chinese jewelry dema
FOX Business
Dec 5, 2012 4:00pm EST
to the fiscal cliff. we're live at the white house with the very latest. what happened. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the mke he goes with people he trusts, which is why he trades with a company that doesn't nickel and dime him with hidden fees. so he can worry about other things, like what the market is doing and being ready, no matter what happens, which isn't rocket science. it's just common sense, from td ameritrade. david: what a strange day. some are way up, some are way down. shares of verifone systems are getting a boost. nicole with more on that. nicole: some stocks jumping, this is a day that verifone is jumping. take a look at the stock right now, a gain of 7.5%. an upgrade from a neutral setting the emerging competition that everybody is worried about is overdone. his growth story is impacted. when they get lake square for example, they are not worried about them at all. with the story they have a price target of $39, which obviously has upside potential clos
CNBC
Nov 29, 2012 9:00am EST
the fiscal cliff and achieving the balanced approach the white house says it wants. i've made clear that we've put real concessions on the line by putting revenues on the table right up front. unfortunately, many democrats continue to rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. mr. bowles himself said yesterday there's been no serious discussion in spending cuts so far. unless there is, there's a real danger of going off the fiscal cliff. listen, going off the fiscal cliff will hurt our economy. it will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes, to replace the sequester and pave the way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy and protect american jobs and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms it's going to be impossible to address our country's debt crisis and to get our economy going again and to cre
CNBC
Dec 5, 2012 4:00am EST
. >>> talks between the white house and republicans over the fiscal cliff are grinding to a hold. house speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my pancakes.
CNBC
Dec 4, 2012 6:00am EST
with a big part of the bill. the white house rejected a gop counterproposal yesterday on the fiscal cliff. we don't know what's going on behind the scenes, hopefully something at this point, at least we know where the two, you know, polar areas are. >>> oracle is accelerating its 2013 dividends payments. kind of interesting. it's going to pay its fiscal second, third, and fourth quarter dividends before the end of the year. the latest company to accelerate dividend payments to avoid higher dividend rates next year. >>> and sprint is reportedly unlikely to make a counteroffer for metropcs. reuters said sprint will concentrate on closing its deal to sell up to 70% of itself to soft bank. sprint pcs has agreed to a takeover. >>> we've got more of our exclusive interview with brian moynihan. we also discussed the state of financials and the upcoming fed stress test. the banks have to turn in their capital plans to the fed by january 7th so i asked moynihan about the bank's dividend plan. >> we let everybody know and i think there's -- look work we fared well last year and i assume we'll farewell
FOX Business
Dec 3, 2012 11:00am EST
.m. eastern about the fiscal cliff. all part of the white house my2k campaign with the president drumming up support for higher taxes on the rich. dennis: that will be a fair and balanced asourcement of questions. our parent company, parent corp., details on splitsville, editor and chief of the "wall street journal" is ceo of the print spinoff taking the news corp. name. the video film television properties is fox group and the daily, launched by news corp. last year as the first ipad only newspaper, one of them anyway, closing, rest in peace. ad spending is the canary in the coal mine taking a hit, three ad agency giants reducing forecasts for next year. 4.5%. more sluggish 4.1%, and worldwide, interpublic, most bearish, in half to 3.1% next year, and there's this, the 86-year-old icon of playboy getting hitched on new year's eve to crystal harris who is six decades younger, she's 26. now, that's just wrong unless you're hugh hefner. tracy: she didn't show last time. the second engagement, and jilted four days before hand. dennis: i so hope they'll be okay, those young kids. marriage is har
CNBC
Nov 30, 2012 1:00pm EST
of the white house's proffer here in the fiscal cliff negotiations. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> one can only hope. so how should investors brace themselves for the big week ahead? in today's trader triple play, jeff kilburg, along with mahir dongei. steve, you get to go first. would you have expected that today basically a flat-line kind of day for the dow and s&p and so forth, would have been more volatile given greece, given the comments out of washington and in pennsylvania? >> i certainly would have. i'd have thought that the greek news, the bailout tranche, would have been more positive. i would have thought the miss on consumer spending would have been more negative. i would have thought we saw more movement in the futures market before the open. we didn't see that. we waited for the political speakers. they've been pretty much lined up on their sides defending those who voted for therm. they've been moving markets which they didn't do today. >> jeff kilburg, how are you positioning your accounts, your portfo
FOX Business
Dec 1, 2012 4:00am EST
to meet with governors next week as part of his effort to talk with people about avoiding the fiscal cliff. members of the national governors' association executive committee meeting the white house next tuesday, including chairman teller governor as well as wisconsin governor scott walker. the president will deliver a speech to the business roundtable was a recap the president has delivered a speech at a toy factory, met with small business owners, middle-class taxpayers, labor union leaders, two groups of business executives on the cliff, but has not met with the republicans with whom he has to deal in order to cut a deal. up next, the house passes legislation to provide visas to emigrants with advanced degrees. cries of racism from one democrat. we will take it up in the"lou dobbs forum." republicans leading the way on immigration reform. we will take that up as well on our way to this break, here is our list of the folks the president should also consider meeting with on the fiscal cliff. ♪ lou: in "lou dobbs forum" we will talk about illegal immigration and efforts to change our im
CNBC
Nov 29, 2012 5:00pm EST
a copy of the white house's proffer here in the fiscal cliff negotiations. this is the proffer that apparently treasury secretary tim geithner was talking to republican leaders about today. wall street journal citing a number of specifics from this proposal. let me walk you through them and lay out the implications starting with what aides describe as the white house wanting $1.6 trillion in tax increases up front as part of any new deal. the white house wanting to continue the payroll tax credit or similar policy. the white house saying that it wants a permanent increase in the debt limit and pushing a one-year extension of jobless benefits plans. this one will be the kicker, i think, to any deal that might or might not get hashed out on capitol hill. "the wall street journal" reporting that republican aides are saying that the white house would like to see at least $50 billion in new spending to spur the economy. so in a debate we're seeing over spending cuts, "the wall street journal" now reporting at the top of this hour that the white house would like to see $50 billion in
CNBC
Dec 4, 2012 9:00am EST
he convince the white house to back the republican solution to the fiscal cliff? one more look at futures on a tuesday morning as melissa said. not a lot of data today. just wait until the next three days. it all starts with adp, jobs coming up later this week. more "squawk on the street" back in a minute. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. >>> shares of toll brothers are rising beating estimates helped by a jump in signed contracts and a drop in cancellation rates. every metric in this report came out gangbusters and the ceo cited this upswing in momentum that began in the first quarter of this year. they say next signed contracts increased quarter by quarter. 45%, 51%, 66% and 75%. now that's a case for momentum sustained here. >> the question is auto. obviously tremendous demand. home
CNBC
Nov 29, 2012 4:00am EST
on grounipping at fedex office. >>> today's to which stories, the looming fiscal cliff. congressional leaders and top white house negotiate tors are set to meet on capitol hill today. the economic agenda, we get a second read on third quarter gdp. and weekly jobless claims -- third read on second quarter. confusing. and weekly jobless claims before the opening bell. and the richest power ball jock pot ever and the second largest top prize in u.s. lottery history. why anyone would buy a ticket when becky and andrew were already going win is beyond me, but two tis
CNN
Dec 3, 2012 2:00am PST
meets with governors at the white house. they will be discussing, what else, the impending fiscal cliff. >>> news corporations uk chief tom mockridge is stepping down. he took over the unit 18 months ago at the height of the company's phone hacking scandal >>> the time has finally come, cory booker taking the food stamp challenge this week. the newark mayor will only be eating with food he can buy for $37. that is the average food stamped benefit in his week. booker said he will be giving up coffee because he can't afford it. that will be tough for us. >> no doubt. >> interesting to see at the end of that how he does. >> i'm sure he will be documenting on twitter what goes on during those days. coming up, one of the strangest cases of cosmetic surgery, can't make this up. did you read about this? mustache implants. that's right. we'll tell you about it next. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male
FOX Business
Dec 5, 2012 7:00pm EST
, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less than optimistic? joining me is john, and carl, senior economist for deutsche bank. gentlemen, thank you for being here. start with the treasury secretary. the man in charge of our treasury is out telling everyone that the administration he works for is a part of is perfectly prepared to go over the fiscal cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it's worthwhile to go over the cliff, it's not th
FOX
Dec 6, 2012 7:00am PST
. >>> the standoff over the fiscal cliff is putting jobs here in california and alison burns has more on this. >> reporter: and secretary panetta has warned the fiscal cliff would hurt our national defense. he's expected to hold a news conference any minute now. he's getting the order from the white house to brace for massive budget cut us. now, the automatic spending cuts that would kick in if congress does not reach an agreement on the fiscal cliff would force the pentagon to slice about 10% of the budget. the defense industry projects one in five defense contracts in california would be lost. the aerospace industry is projecting that 135,000 department jobs would be cut along with 90,000 jobs for a total of about 225,000 jobs lost in california over the next few years. alison burns, ktvu channel 2 news. >>> 8:16. well, today will mark the 9 oth annual lighting of the national christmas tree. president obama and his family, they will flip a switch lighting that tree this evening. neil patrick harris, remember doogie howser? he will be hosting the event. james taylor and the fray will be amo
CNBC
Nov 29, 2012 4:00pm EST
. kayla is here with the latest. over to you. >> reporter: thanks, maria. from the fiscal cliff to the twinkies, it's the latest here for the hostess bankruptcy saga. a judge at southern district bankruptcy court here in white plains approved a $1.8 million payout to 19 of hostess' executives. that's excludeing the chairman and ceo greg raybourn. that will be an incentive payout to have the executives have the appropriate motivation to wind down the business. there are certain benchmarks and cost cutting and sale mechanisms this place. that's important because now the focus shifts to selling the 30 businesses left. of course, many of hostess' brands are extremely iconic. we all know the twinkie. we all know the ding dong. we heard today from the hostess lead banker running that sale. he said there are 110 interested buyers that are potentially going to bid. 70 of those buyers have signed nondisclosure agreements. he expects about 50% of those bids to actually materialize into real interest come december 10th. everyone is talking about saving the twinkie. when you look at the bre
CNBC
Nov 29, 2012 6:00am EST
the fiscal cliff. >>> also at the top of the hour, former white house council economic provider greg mankiw. from currency trading for a few to a currency market for everyone. the potential of fxcm unlocked. nyse euronext. unlocking the world's potential. the potential of yelp unlocked. nyse euronext. unlocking the world's potential. >>> welcome back, everybody. secretary treasurer time dpiet nev geithner is going to be speaking today. majority leader eric cantor, house bunt committee chairman paul ryan and the chairman of the house is tax's ways and mean committee, also lunch with republican senate minority leader mitch mcconnell and nancy pelosi. he has a pretty full schedule today. >>> yesterday a number of high-profile corporate leaders met with president obama at the white house including goldman sachs' ceo lloyd blankfein. >> at this point both sides had acknowledged there was going to be revenue concessions and entitlement concessions. in fact, if you listen to it, again, i'm not a master of the political art here and i'm not no washington, but i would say if you had these point of v
CNBC
Dec 5, 2012 9:00am EST
businesses as negotiations or lack thereof over the fiscal cliff continue. >> did you see that the nbc white house team is reporting the belief that perhaps the republicans don't have the fight in them anymore to really dig in now on the concessions on the way which is good news if you don't want to go over the fiscal cliff but they are dispelling the real argument for later on. >> fuel line inspections being ordered for boeing 787 dreamliner. phil lebeau has more on this story. >> a rough day yesterday if you are tracking what's happening with the dreamliner. one of two important stories that broke yesterday. the first one involving a dreamliner that had to make an emergency landing. it was flying from houston to newark, new jersey. it had to turn and it had to make an emergency landing in new orleans and united crew reporting mechanical problem. they delivered the dreamliner two weeks ago. boeing technical team is right now in new orleans investigating the problem along with united teams. they'll have an update later today hopefully. boeing coming out and saying that it expects faa to mand
CNBC
Dec 6, 2012 4:00pm EST
observation on the ongoing talks in washington over the fiscal cliff. reporting in the last half an hour that speaker boehner and the white house are finally resuming negotiations. albeit at staff levels, but it's a start. and i have a suspicion we might see more progress soon. you see, finally lawmakers are motivated. unfortunately, i don't think the motivation is to put america on a sustainable fiscal path. i think what's driving them is their scheduled vacations. yes. i really do. now, i know they'd never admit it, but look at the facts. everybody is planning to get out of d.c. for good two weeks from tomorrow, december 21st. including the president who already has an extended hawaii trip planned beginning december 17th. you'd think the fact that every working american's taxes will go up on january 1 without a deal would get them talking or that defense analysts telling us over and over if we go over the cliff, 40,000 jobs will be cut immediately in that sector and that's just lighting the fire for other cuts or widespread beliefs that we will have a serious market selloff and another
FOX Business
Dec 4, 2012 1:00pm EST
presenting a plan to avoid the fiscal cliff. first and foremost, avoiding increasing and eliminating deductions on of her earnings to raise an additional $8 billion. $1.2 trillion in new spending cuts. the white house, no surprise, already rejecting the plan. the president saying the gop plan is out of bounds because it does not include higher taxes on the wealthy. we are joined now by a chief economist. why does it seem the only solution to be satisfied with is to raise taxes on the wealthy? >> they clearly staked out this position during the campaign. they feel they have a mandate for it. i am sort of skeptical. the sticking point is the tax rate question on the wealthy. however, with that said, progress has been made in the sense that the republicans are not willing to raise taxes, not rates, on the rich. democrats are saying they are more open to entitlement cuts, if you will, reform, whatever you want to call it. they are making progress. [talking over each other] the question is: you know, how far are both sides willing to go down to the wire to avoid this. whether it is the d
CNBC
Dec 3, 2012 9:00am EST
up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. like grover is stuck with this pledge he made everybody take which is that they have to go over the cliff because they obviously will not ever say the word tax. they will only say revenue. i'm stuck spe
CNBC
Dec 3, 2012 12:00pm EST
with one month to go before the fiscal cliff. our traders for the hour, joe terranova, stephanie link, simon baker, josh brown. they're ready with your best plays right now. and joe terranova, play this market. >> 4:00 this morning when i got up, i turned on the screens. looked at where the market was and tweeted directly to stephanie. if you are a money manager, you were asked at 4:00 in the morning, why is the market here, why is it not lower? well, it's now 12:00, scott, and after the ism, the s&p futures trading 14, 15, the same question. why is the market here? it should be lower, given all the fundamentals going on in the marketplace right now. that tells you, there's something going on here psychologically that goes beyond the negativity that we see out of d.c. maybe the street is smarter than we expect. but you are seeing a little bit of a lift. and any market that's quiet, you never sell it. >> josh, the market is hanging in. >> short-term traders are really nervous about missing a santa claus rally. so you're seeing this kind of fade. the news reaction. in the absence of us
CNBC
Nov 30, 2012 4:00pm EST
on wall street. stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmas time. >> according to congressional republican aides, they say they have obtained a copy of the white house's proffer here. at least $50 billion in new spending. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> morgan stanley wealth management's chief investment strategist up next with his list of winners and losers. plus, how you can make money in these shaky markets as the year winds down. >>> later, as lawsuits pile up and hewlett-packard stock suffers, carly fiorina will join me for her first interview since the autonomy disaster came to light. wait until you hear who she says deserves the blame. >>> also, social security an
CNBC
Dec 5, 2012 4:00pm EST
26 days away from the fiscal cliff. steve liesman joins us now live from the treasury. he has an exclusive interview with one of the key negotiators at the white house, secretary of treasury timothy geithner. >> maria, thank you. i'm here with the secretary of treasury at a crucial time. thank you for joining us. >> thank you. >> speaker boehner has put forward a proposal which "usa today" says demonstrates more political courage the democrats have shown. the white house is saying today it's not even wor ty -- worthy of a response. what are we missing? >> i think we are making progress. they acknowledged they were prepapered to do $800 billion in higher taxes on part of the american economy. that's part of the balanced framework. that's definitely progress. what we need to see is have them acknowledge the rates go up. if they're willing to accept that and commit to that, then we think we could do something good for the economy. we can make the government use the taxpayers' money more efficiently, lock in some spending savings and do some long-term entitlement reforms to make s
CNBC
Dec 5, 2012 5:00pm EST
. unlocking the world's potential. >>> no fiscal cliff deal without raising taxes on the rich. that's what treasury secretary timothy geithner told steve lease son. steve joins us from the white house with more on this. >> melissa, thanks very much. interesting comments from the treasury secretary who laid out the negotiating position of the administration in ways that it hadn't before, at least not explicitly as they had. what i want to play here is the sound from the interview and i'm going to put my question in there too just so you understand exactly what the treasury secretary was responding to when it comes to the position of the administration on walking away or letting the country go over the fiscal cliff without tax hikes for the wealthy. here it is. >> i want to understand the administration's position when it comes to raising taxes on the wealthy and those making more than $250,000. if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on th
FOX Business
Dec 4, 2012 3:00pm EST
of the year. if the u.s. goes off of the fiscal cliff, their budgets, each of the state you live in would run amok especially the comes to funding everyday programs and running the entire state. last week during the governors on the edge series that is exactly what we addressed as we spoke with a number of state governors on this important issue. >> one thing we want to make sure people in washington understand is if all that is done is a cost shifting from the federal government to the state, it doesn't accomplish much because states are not in a position to pick up the extra costs. >> speaking as governor of the stage we execute. we have to get things done. unfortunately congress doesn't. they can throw rocks at each other and leave it for another day and kick the can down the road. governors have to get things done today. we would hope congress will watch the governor's listen to the states. i think we can help him find compromise. liz: governor mark l. will be on neil cavuto tonight at 8:00 p.m. eastern. you cannot miss that interview. see what he has to say about today's trip to the whit
CNBC
Dec 3, 2012 4:00am EST
the white house and congressional republicans, just 29 days to go before the u.s. hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff at some point in these negotiations. is it a terminal standoff? when does somebody blink? >> it's not a matter of who will blink or not. i think that the republicans are trying to go tit for tat with the president. you have to realize that the president has the bully pulpit and the ability to command media. so the republicans feel the need to res
FOX Business
Dec 3, 2012 4:00pm EST
the special dividends that keep getting announced thanks to the threat of the fiscal cliff could have a downside for companies and possibly the investors of those companies. up next liz macdonald tells us what it is. ♪ . david: we knew it was coming. the white house released a response to the republican counteroffer that came out from the president on thursday. this is what the white house says. the republican letter released today does not meet the test of balance. the response goes on to say, quote, until the republicans in congress are willing to get serious about asking the wealthiest to pay slightly higher tax rates we will not achieve a significant balanced approach to reduce our deficit, our nation needs. it goes on. sandra: sounds like we're still nowhere is what that says. david: right in the middle. more and more companies are issuing special dividends in fear of potential tax hikes in the new year. they're borrowing lots of money to do it. that is the most shocking part. david: it is incredible. the person knows all about this is fox business's liz macdonald because she g
FOX Business
Dec 5, 2012 11:00am EST
that is fair. about an hour after speaker boehner spoke this morning about the fiscal cliff ago she haitians. in case you missed it, a quick piece of that. >> if you look at the plant that the white house has talked about thus far, they could not pass either house. dagen: rich benson is here. he is joining us with the latest from d.c. >> i think you can tell where the president was heading with this. we know the president lied on this is the campaign to raise taxes on wealthier americans. he says it is all part of the budget that he has put out over the last few years. that budget calling for tax increases over the next decade on families earning more than $250,000 a year. he campaigned on march revenue less than that. tax deductions they can't, they just say they would not raise tax rates. that really has been the key to all of this. connell: we are kind of caught in the middle. you saw the president speaking on the screen while rich was speaking. the audio still is not quite right of it. thank you. there we go. citigroup. another big story today. the stock has been up. 11,000 people, thoug
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